Hunt says ‘tough road ahead’ as ‘very bleak’ recession looms

1668152125Jeremy Hunt has warned of a ‘tough road ahead’ after new figures revealed that the UK economy contracted by 0.2 per cent between July and September, in what could herald the start of a long recession.The chancellor admitted the government would be forced to take ‘extremely difficult decisions to restore confidence and economic stability’, but insisted that the ‘fundamental resilience of the British economy is cause for optimism in the long run.’The Office for National Statistics (ONS) said that gross domestic product (GDP) had fallen by 0.6 per cent in September, in part due to the Queen’s funeral. It could be the beginning of a recession – which is defined as two quarters of shrinking GDP in a row.Reacting to the news, the Federation of Small Businesses (FSB) National chair Martin McTague said the ‘outlook for the UK economy is now very bleak indeed’, and urged ministers to demonstrate that they have ‘grasped the scale of the issue.’Emily Atkinson11 November 2022 07:351668149448Matt Hancock admitted to his ‘I’m A Celeb’ campmates that he ‘messed up and fessed up’ over a CCTV video leak in which was seen kissing an aide during the Covid lockdown.He said on the show: ‘I messed up and I fessed up. I resigned and it’s no excuse but I fell in love, right? That also had a lot of other consequences, obviously.’Labour leader Sir Keir Starmer said yesterday that Mr Hancock should ‘voluntarily leave’ the ‘I’m A Celeb’ jungle and return to parliament.He said that the former minister’s decision to join the show was ‘wrong’.’He should get back to Westminster, he should get back to parliament and do his job,’ Sir Keir said.Maroosha Muzaffar11 November 2022 06:501668148848Jeremy Hunt is reportedly planning a stealth move to force small businesses to pay thousands more in VAT as part of measures to plug a fiscal black hole feared to be as wide as £60bn.The chancellor will take to the House of Commons next Thursday to deliver a fiscal statement that will define Rishi Sunak’s nascent government, as the prime minister seeks to distance himself from the disastrous reign of Liz Truss, his short-lived predecessor.Read the full story here:Threshold freeze could leave thousands more businesses owing Treasury Maroosha Muzaffar11 November 2022 06:401668147948Voters do not trust Rishi Sunak and Suella Braverman to deal with the problem of migrants crossing the Channel in small boats and have little faith that their flagship Rwanda policy will work, according to a new poll for The Independent.Campaigners urged the prime minister to ‘press the reset button’ on his plans to deport asylum seekers to the African country for processing, after the research by Savanta ComRes found that significantly more voters believe the crisis can be resolved by the provision of safe and legal routes to the UK.Read the full story by Andrew Woodcock here:’Press the reset button’: New legal routes thought more likely to be effective than Rwanda flightsMaroosha Muzaffar11 November 2022 06:251668147348Ahead of next Thursday’s Autumn Statement cuts, Rishi Sunak’s wife Akshata Murty has landed £7m in dividend payments from Infosys, the Evening Standard reported.This comes a week before the Autumn Statement is expected to unveil deep cuts in public spending.Ms Murty has collected £35m in Infosys dividends since 2020.Maroosha Muzaffar11 November 2022 06:151668145848Mr Sunak said ‘goodwill and pragmatism’ would be needed but that a way through should be found.He added that he wanted a resolution to be found to allow the powersharing institutions at Stormont to be restored.Read the full story here: The Prime Minister was speaking after his first official meeting with Irish premier Micheal Martin at the British-Irish Council summit in Blackpool.Maroosha Muzaffar11 November 2022 05:501668145248The Fianna Fail leader added that he and British Prime Minister Rishi Sunak agreed there is a ‘window of opportunity’ to address the protocol concerns.Mr Martin made the remarks after a meeting with Mr Sunak at the British-Irish Council summit in Blackpool on Thursday.’The mood music is improving, we now need to translate that into a resolution, a negotiated resolution between the United Kingdom and the European Union.’Read the full story here: The Taoiseach and British Prime Minister Rishi Sunak held a meeting at the British-Irish Council summit on Thursday.Maroosha Muzaffar11 November 2022 05:401668144348Now we see how much we need more people, skilled and unskilled, to help keep everything running. We need to be more open to migrants from across the planet, Sean O’Grady writes: Now we see how much we need more people, skilled and unskilled, to help keep everything running. We need to be more open to migrants from across the planetMaroosha Muzaffar11 November 2022 05:251668143688Chancellor Jeremy Hunt is examining freezing day-to-day public spending in real terms for three years after 2025 in the Autumn Statement next Thursday, saving about £27bn ($31.67bn) a year by 2028, the Financial Times reported.Citing sources familiar with the matter, it reported that Mr Hunt is drawing up plans to reduce the growth in public spending in those three years to 2 per cent or lower.The chancellor will take to the House of Commons next Thursday to deliver a fiscal statement.Maroosha Muzaffar11 November 2022 05:141668142848Rishi Sunak said yesterday he is confident that ‘with goodwill and pragmatism’ a breakthrough can happen in negotiations over the North Ireland protocol.’We all recognise that the protocol is having a real impact on the ground,’ the prime minister told reporters at the British-Irish Council summit in northwest England.This is the first time a British prime minister attended the bi-annual meeting in 15 years. ‘I discussed this with the (Irish prime minister Micheál Martin), we had a very positive meeting, and what I want to do is find a negotiated solution, preferably.’Mr Sunak also said that he is ‘pleased’ with the progress. ‘And I’m pleased with the progress that we’re making in these early days in this job, and my focus is to try and find a resolution here.’Maroosha Muzaffar11 November 2022 05:00